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Sep 22, 2012
09/12
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he paid a tax rate of 14%. the campaign also released a summary the campaign also released a summary of taxes paid between 1990 and 2009. he paid on average 20% during this period and never paid less tha n during this period and never paid less than 13% in any given year. mitt romney is estimated to be worth $250 million. his walk is often used as a weapon by democrat to put him —— to portray him as out of touch with ordinary americans. the rich are getting rich. we succeed when folks at the top are doing well but also when the middle class is doing well. we cannot get far with leaders who write off half the nation's as a bunch of victims. mitt romney said half the country is reliant on the government because they saw themselves as victims. it caused outrage. government is there and must be they who need help. for those who cannot care for themselves. of course we are always there. we are a compassionate people. most commentators said mitt romney has had a terrible week. it is not clear whether the release
he paid a tax rate of 14%. the campaign also released a summary the campaign also released a summary of taxes paid between 1990 and 2009. he paid on average 20% during this period and never paid less tha n during this period and never paid less than 13% in any given year. mitt romney is estimated to be worth $250 million. his walk is often used as a weapon by democrat to put him —— to portray him as out of touch with ordinary americans. the rich are getting rich. we succeed when folks at...
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Dec 21, 2012
12/12
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is for businesses, we're able to help you with all of the data to know whether you're going to get a tax credit from handling the insurance premiums for your employees or whether to go to an exchange or whether to buy on your own. i think there's going to be a lot of movement here in the next year or two and i think we'll be here at paychecks to help them. >> given that business, which is obviously going to be a growth business, as any business that has too do with regulation in washington, and your hr business, which is very fast growing, at what point can they really -- not just offset but move the needle? i know they're not large enough to impact your core business but they're growing fast and they seem like a secular growth story. >> they'll still small in the overall $2.2 billion in revenue that we have. however, it's growing quickly. the nonpayroll business is over $500 million now. it's a growing business. and just selling health insurance has grown a little over 20% the last year. we're pretty happy with that business and we think it will continue to do well. >> the last thing i'
is for businesses, we're able to help you with all of the data to know whether you're going to get a tax credit from handling the insurance premiums for your employees or whether to go to an exchange or whether to buy on your own. i think there's going to be a lot of movement here in the next year or two and i think we'll be here at paychecks to help them. >> given that business, which is obviously going to be a growth business, as any business that has too do with regulation in...
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Nov 15, 2012
11/12
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but voters just passed a tax hike, which will make the richest californians the highest taxed in the land and democrats now hold a super majority in sacramento. so, here at the milking cow here in california, i asked mike milken, and ueberroth says you've got to be aggressive. milken says you have a lot of research resources. you have the beach and yosemite, and it's not all about taxes. >> i think i'm in the 60% tax bracket, i figure, between federal and state. it's something i have to deal with and figure out how to operate more effectively. >> is that fair? >> i think what's the question is fair. i think as long as you have tubt r opportunity, the number one issue i don't believe is the level of taxes, it's are you business friendly. can you open? can you be responsive to business? >> private sector jobs must stay here. we're not taking any out, but we need to have incentives to have the growth of the companies that are here over the next ten, 15, 20 years, keep their jobs here. we need to work on that. it won't be perfect, but we'll get a lot of them. if we keep them here, it wil
but voters just passed a tax hike, which will make the richest californians the highest taxed in the land and democrats now hold a super majority in sacramento. so, here at the milking cow here in california, i asked mike milken, and ueberroth says you've got to be aggressive. milken says you have a lot of research resources. you have the beach and yosemite, and it's not all about taxes. >> i think i'm in the 60% tax bracket, i figure, between federal and state. it's something i have to...
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Dec 17, 2012
12/12
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income tax increase. because that will put a limit to the amount of stock people buy and investments that they make. so i am -- i am with you there, but what about the president saying, look, i have a mandate, okay? i was elected. >> well, of course, the president has to remember that 86% of the tv ads that were run on his behalf in the last election were explaining that romney will give you cancer and was a man of low moral character. these were not ads celebrating tax increases and spending too much money. so he won a mandate not to be romney. okay, for four years, he doesn't have to be romney. but he didn't get a mandate to continue spending and raise taxed on the american people. he never talked about the obamacare taxes that will be taking place in january. as a matter of fact, he avoided talking about those, and, of course, the republicans won a majority of the house and they did vote for a budget that reformed entitlements, cut tax rates, that did dthe ryan plan, and everyone in the republican hous
income tax increase. because that will put a limit to the amount of stock people buy and investments that they make. so i am -- i am with you there, but what about the president saying, look, i have a mandate, okay? i was elected. >> well, of course, the president has to remember that 86% of the tv ads that were run on his behalf in the last election were explaining that romney will give you cancer and was a man of low moral character. these were not ads celebrating tax increases and...
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Nov 14, 2012
11/12
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i looked at the six tax rates broken out. the top two rates if you wanted to solve the financial issues just by taxing those two rates, you have to take 108% of their income. even your buddy lenin or mao would consider that confiscatory. >> they thought about this deeply. and they wouldn't go with that. i'm proud that you are the guy going down to washington tomorrow. that is dave cote, the chairman and ceo of honeywell. for the fix the debt campaign and the american who understands the crisis that we are in. coming up. the clock is ticking. call cramer to find out how to fire away at cramer on the lightning round. can he withstand your onslaught of stocks? and later, ready for takeoff? shares of boeing have been caught in a holding pattern this year. but could the flight path be changing or will fiscal cliff concerns keep it grounded? cramer is taking out his technical tool set to read the plan. coming up on "mad money." >>> it is time for the lightning round. >> i know you like gld, but i'm looking at sandstorm. >> i know t
i looked at the six tax rates broken out. the top two rates if you wanted to solve the financial issues just by taxing those two rates, you have to take 108% of their income. even your buddy lenin or mao would consider that confiscatory. >> they thought about this deeply. and they wouldn't go with that. i'm proud that you are the guy going down to washington tomorrow. that is dave cote, the chairman and ceo of honeywell. for the fix the debt campaign and the american who understands the...
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Dec 21, 2012
12/12
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tax relief for a tax cut like he likes to. going over the cliff is the only way norquist controlled republicans are spared the wrath of grover which i believe having known grover for 35 years is indeed worse than the wrath of con. so if a deal is more likely, why sell now. legitimate question, ain't it. it could be the major reason we didn't sell-off. we rallied 7%. even if boehner's plan b won and president said that's legitimate stillbornen and couldn't be considered serious. there's been little selling in the last few weeks despite how much politicians clearly loathe each other and couldn't have a pbr. i believe we can quick selling off. more and more people recognize we could go over the cliff. even if this is why we shouldn't sell. you can get an achievable goal of helping with tax breaks. it could be possible as soon as next week. remember, it isn't a cliff where you have a hard landing. it's more like a jump on a trampoline or a deep swimming pool where there's a recovery is almost a certainty although it could be like
tax relief for a tax cut like he likes to. going over the cliff is the only way norquist controlled republicans are spared the wrath of grover which i believe having known grover for 35 years is indeed worse than the wrath of con. so if a deal is more likely, why sell now. legitimate question, ain't it. it could be the major reason we didn't sell-off. we rallied 7%. even if boehner's plan b won and president said that's legitimate stillbornen and couldn't be considered serious. there's been...
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Apr 10, 2012
04/12
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obama will talk about this proposal to tax millionaires. tax them by 30%. it's something that will be voted on in the senate in the next few weeks. we will carry that message for you live. >> meanwhile, red on wall street. the market is down for a fifth day in a row. more fears of global slow downs rattling investors. there could be higher tax but given the uneasiness in europe and selloff in the euro zone. it is the worst losing streak for the market so far this year we're see a flight to safety. yields on the ten-year falling below 2% in a month. coming up, ways to protect your money during these uncertain times. take a look at how we approach this final stretch. with the dow jones industrial with the decline of 199 points. it was down 200 points. nasdaq, also weaker. it, too, bouncing off the lows. very close to it. 52 points for the nasdaq. check the s&p 500 declining by 1 2/3%. the cyclical names under pressure at 1359 in the s&p 500, bill. >> as we wait for the president's speech, let's bring in some guests to kind of kick some things around as we wat
obama will talk about this proposal to tax millionaires. tax them by 30%. it's something that will be voted on in the senate in the next few weeks. we will carry that message for you live. >> meanwhile, red on wall street. the market is down for a fifth day in a row. more fears of global slow downs rattling investors. there could be higher tax but given the uneasiness in europe and selloff in the euro zone. it is the worst losing streak for the market so far this year we're see a flight...
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Nov 13, 2012
11/12
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and the tax rate of dividends is irvel vent. they are natural buyers and take up to slack on the move down. they cushion us. others shouldn't sell because the dividends of others are so high. how would you feel of passing up on the gain of home depot? which brings us to the last and most important reason why we aren't crashing. even a sub par one, remember what i said, that a known bad outcome is better than almost anything that is unknown. see, if you miss the moment of a deal, though, you miss the gains that we are going to get for the rest of the year. let me give you a couple of contrasts. >> the worst one that i have ever seen in 1990 was in kuwait. that was a stalemate that you wanted to see. in the end you wanted to buy before the war started. until then, it was a perfect moment for sellers. how about the summer of last year. people fled caused by the debt ceiling problem. you didn't know when it would be solved. lots of people think this is like the debt ceiling fight. and that is why i'm telling you, you can take some p
and the tax rate of dividends is irvel vent. they are natural buyers and take up to slack on the move down. they cushion us. others shouldn't sell because the dividends of others are so high. how would you feel of passing up on the gain of home depot? which brings us to the last and most important reason why we aren't crashing. even a sub par one, remember what i said, that a known bad outcome is better than almost anything that is unknown. see, if you miss the moment of a deal, though, you...
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Sep 24, 2012
09/12
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why don't we keep the bush tax cuts in place for a year and go to work and redesign the tax system. i think that could be a very pro-growth answer to this. but the president holds fast and refuses to support republican extension of the bush tax cuts, he has the ability to stop those tax cuts from being extended. >> if the president gets re-elected it sounds like taxes are going higher. >> that's what he told us. >> what are youing to give on? >> we will do whatever we can to stop it. >> what are you willing to -- >> i'm willing to look at a variety of tax proposals, i'm willing to look at the deductions we have now. i'm not willing to look at higher tax rates. i think that would be very bad for the economy and would be, frankly from a republican standpoint, we would be breaking our commitment to the american people. remember, those bush tax cuts aren't permanent. they run out. now, if we have a president romney, your rates won't go away. >> congressman cole, thanks for being with us. >>> high other the dow by 11 points. the nasdaq is off 15. much of that from apple's decline. >> rec
why don't we keep the bush tax cuts in place for a year and go to work and redesign the tax system. i think that could be a very pro-growth answer to this. but the president holds fast and refuses to support republican extension of the bush tax cuts, he has the ability to stop those tax cuts from being extended. >> if the president gets re-elected it sounds like taxes are going higher. >> that's what he told us. >> what are youing to give on? >> we will do whatever we...
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Nov 28, 2012
11/12
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at the same time if the 2013 tax code more than doubles the taxes on dividends. i want to be there with my ropes, make them so i can secure myself and get them right back in. here's the bottom line. i don't want it to go over the fiscal. i'm a 46 in the adirondacks. the losses on the cliff won't impact the legislators until after the market climbs and unemployment skyrockets. it will be cause -- the cliff is going to close soon and you'll be up there with your home depot, sherwin-williams and at&t. why not be profitable on the other side of the valley. let's go to robbie in michigan, please. >> caller: with the 27% increase today, should i take my money and run? >> i don't know if it's going to be a 40. walt in new hampshire. how do youing? >> caller: boo ya from concord, new hampshire. >> "the monitor" me a job in 1977 and i almost took it. >> whirlpool, should i hang on? >> even though it's up 116%, it should not be sold. i owned it in the 50s in my law school dorm in 1983. let's hold on to this and go to patrick in washington. >> caller: hi, jim. booya. given
at the same time if the 2013 tax code more than doubles the taxes on dividends. i want to be there with my ropes, make them so i can secure myself and get them right back in. here's the bottom line. i don't want it to go over the fiscal. i'm a 46 in the adirondacks. the losses on the cliff won't impact the legislators until after the market climbs and unemployment skyrockets. it will be cause -- the cliff is going to close soon and you'll be up there with your home depot, sherwin-williams and...
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Sep 2, 2012
09/12
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what is your take on the bush tax cuts? should they be extended? >> well, as you know the president has looked forward to the discussion with congress and the senate, and hopefully we can get to some sort of resolution where we don't go off the cliff. because it was never our intention to do that. and right now we can close the gap if we just allow the revenues to be raised and put the focus on the individuals who could afford to pay more on the increase in their taxes, and that would be the millionaires and billionaires. >> well, let's be fair, taxes are going up for more than anyone making $200,000. so that is not exactly a millionaire or billionaire. so should we really have the stand off on the raises on the taxes for a portion of people when everybody is waiting in the balance to see while this fiscal cliff waits in the balance and everybody is waiting to see what happens. because everybody is going to see their taxes go up, above $200,000. not millionaires. >> well, i would think that hopefully, the public will contact their representatives s
what is your take on the bush tax cuts? should they be extended? >> well, as you know the president has looked forward to the discussion with congress and the senate, and hopefully we can get to some sort of resolution where we don't go off the cliff. because it was never our intention to do that. and right now we can close the gap if we just allow the revenues to be raised and put the focus on the individuals who could afford to pay more on the increase in their taxes, and that would be...
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Sep 7, 2012
09/12
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as uh say in "real money" don't do things for the tax man. if you have a company that's good, hold on to it even as you may not be able to get a good rate when you go to sell. maybe you shouldn't sell at all because the stock is going higher. another day when the worse was expected but the market took it in stride. disappointing jobs in tech, but the market didn't blink. is the market an idiot? no. the market is making sense. out's about profits, not about employment reports. "mad money" will be back. >> coming up, your next move. while the market shrugged off bad news today, this is no time to get complacent. out's a jam-packed week ahead. stick around to arm yourself with cramer's game plan before you make your next move. and later, core holding? it's one of the market's top performing stocks after surging over 8,000% in just the past five years. is this sky high rise hit a ceiling or will our need for medical innovation mean this run has just begun? plus, frozen smiles? while averages have soared this year, botox maker allergan stock stall
as uh say in "real money" don't do things for the tax man. if you have a company that's good, hold on to it even as you may not be able to get a good rate when you go to sell. maybe you shouldn't sell at all because the stock is going higher. another day when the worse was expected but the market took it in stride. disappointing jobs in tech, but the market didn't blink. is the market an idiot? no. the market is making sense. out's about profits, not about employment reports....
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Dec 10, 2012
12/12
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if the president were to say that taxes aren't going up, there's no taxes on apple if you sell it, i think the selling would be done immediately n short washington is driving this, not apple, it's an inexpensive stock. here's the bottom line, i would do anything not to focus on washington, anything. but we can't go much higher without a deal, any deal. and a deal is going to be made or not made on wall street, now washington. and i have to go up there tomorrow. i don't want to do it. given that the president won re-election, and he ran on the fact that he's going raise capital gains, these will what you call facts. meredith in california, meredith. >> caller: hi, sweet jim cramer, from devore, california, thank you so much for helping beginning investors like me. >> well, thank you, that's what this show is about, how can i help? >> my stock is ingersol rand, it's a security tech business and possible announcement of share buyback program and i would love to have your input. >> a lot of people thought it wasn't enough. i saw this when it came over, i think it was right before the ari
if the president were to say that taxes aren't going up, there's no taxes on apple if you sell it, i think the selling would be done immediately n short washington is driving this, not apple, it's an inexpensive stock. here's the bottom line, i would do anything not to focus on washington, anything. but we can't go much higher without a deal, any deal. and a deal is going to be made or not made on wall street, now washington. and i have to go up there tomorrow. i don't want to do it. given that...
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Nov 7, 2012
11/12
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entitlement cuts plus tax increases. >> tax increases. >> that's what i mean by tax reform. >> that's revenue. >> those two thing s s. >> essentially we seem to be in a megaholding pattern. th crowd still stunned overall that even with a likely challenge to ohio, the headline is barack obama being re-elected president of the united states. we have had no indication how soon at the same time no real clue as i said as to if and when we will hear from mitt romney. the challenge thing is something in ohio still being held on to. >> waiting for some sort of possible concession speech from governor romney. back to you. >> thanks very much. >> joining us tonight, former house majority leader. good to have you back. good evening to you. >> nice to be with you. listen, i'm talking to some of my folks on the ground. we have got really really sophisticated activists and they are really upset about the calling of this race with so many -- so much of the vote in the south and southern part of coal mining regions of the state not yet counted. i wouldn't write ohio off yet. i don't think that's sett
entitlement cuts plus tax increases. >> tax increases. >> that's what i mean by tax reform. >> that's revenue. >> those two thing s s. >> essentially we seem to be in a megaholding pattern. th crowd still stunned overall that even with a likely challenge to ohio, the headline is barack obama being re-elected president of the united states. we have had no indication how soon at the same time no real clue as i said as to if and when we will hear from mitt romney. the...
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Dec 19, 2012
12/12
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no tax rates above $1 million. no tax hikes but why did bay nor decide to do that. what signal is he sending? >> i think what he is telling the president is look, i appreciate you coming around on this, i appreciate you giving, it is not enough. and i'm going to go to the floor and show you, that $400,000 is not a deal republicans are going to accept. the other thing that occurs that, is it is important for him that he gets a free pass to do his vote check. can he get the votes on thursday and if republican ares vote for a millionaire's tax increase, they will vote for people making $500,000. >> harry reid dampened the market towards the end of the day. but do you buy what sara said? >> i do. we have to read what is going on. sending signals internally. the other piece of this is this vote gives people cover in terms of protecting millionaires from a restohetorical position. we can't get your $250,000. maybe there is something in between there. look at the reaction from both sides from the outside in. that tells you the contours where the activists are going to brin
no tax rates above $1 million. no tax hikes but why did bay nor decide to do that. what signal is he sending? >> i think what he is telling the president is look, i appreciate you coming around on this, i appreciate you giving, it is not enough. and i'm going to go to the floor and show you, that $400,000 is not a deal republicans are going to accept. the other thing that occurs that, is it is important for him that he gets a free pass to do his vote check. can he get the votes on...
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Sep 8, 2012
09/12
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rate's going to go up and you got to figure the after-tax does matter on taxes didn't on stocks, unless you're in a retirement account. i never like to do as they say in the book of real money, don't do anything for the tax man. if you have a company that's real good, hold onto it even though you may not be able to get as good a rate when you sell because maybe you shouldn't sell at all because the stock's going to go so much higher. another day when the worst was expected but the market took it in stride. disappointing jobs in tech. but the market didn't blink. is the market acting like an idiot? no! the market's making sense because it's about profits, not about employment reports. "mad money" will be right back. >> coming up, your next move. while the market shrugged off some bad news today, this is no time to get complacent. it's a jam-packed week ahead. stick around to arm yourself with cramer's game plan before you make your next zbluf after surging over 8,000% in just the past five years. but is this sky-high-rise at a ceiling or will our need for medical innovation mean this run
rate's going to go up and you got to figure the after-tax does matter on taxes didn't on stocks, unless you're in a retirement account. i never like to do as they say in the book of real money, don't do anything for the tax man. if you have a company that's real good, hold onto it even though you may not be able to get as good a rate when you sell because maybe you shouldn't sell at all because the stock's going to go so much higher. another day when the worst was expected but the market took...
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Dec 15, 2012
12/12
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payroll taxes. it's an absolutely sweet deal for nike. whether it's 40 years or five years, it's going to be in between that range. but it shows you how important companies are to the states and how important taxes are to these companies. it's not just about lowering their rate. they want a tax certainty. they wanted to make sure this deal stayed in place for a long time. >> you know, brian, i get this. i get the whole story. but i just awant to say this. giving that special sweetheart tax deal to nike does not help small businesses in oregon. it does not help entrepreneurs coming into oregon. the state's got a 7.6% corporate tax rate. that's 21st in the country. they have a 9.9% personal income tax. in other words, if they would lower their tax rates across the board, they might not have to give these giveaways to companies like nike and they might grow faster. >> and nike has a sweet deal to begin with. there is a huge debate about the cost benefit of doing this. nike's a great partner. i crunched
payroll taxes. it's an absolutely sweet deal for nike. whether it's 40 years or five years, it's going to be in between that range. but it shows you how important companies are to the states and how important taxes are to these companies. it's not just about lowering their rate. they want a tax certainty. they wanted to make sure this deal stayed in place for a long time. >> you know, brian, i get this. i get the whole story. but i just awant to say this. giving that special sweetheart...
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Nov 20, 2012
11/12
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if the tax scheme doesn't change all that much, you may not be frightened into buying the turbo tax program. i know of no other winners in a rising tax declining spending world. that's why it's so darn destructive. people just keep telling me i see @jimcramer on twitter, jim, you don't know what you're talking about. jim, it's political. listen, guys, it hurts almost every stock i follow. here's the bottom line. you get a compromise, you get politicians to rise above anger and partisanship, then you'll have many more days like today. glorious days! but if these hopes are snuffed, we know what happens. we get the crummy market we've had for weeks and weeks, the one that just might usher in the true bear market that would be a natural given the anticipated recession that the pols were supposed to fear as we got closer to the cliff. maybe the politicians in washington forgot that the preamble to the constitution does recommend that they promote, not destroy the general welfare, provide, not dismantle the common defense, and ensure tranquility, not turmoil. rising above? i think it's what the f
if the tax scheme doesn't change all that much, you may not be frightened into buying the turbo tax program. i know of no other winners in a rising tax declining spending world. that's why it's so darn destructive. people just keep telling me i see @jimcramer on twitter, jim, you don't know what you're talking about. jim, it's political. listen, guys, it hurts almost every stock i follow. here's the bottom line. you get a compromise, you get politicians to rise above anger and partisanship,...
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Dec 18, 2012
12/12
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>> i think it's a real bad idea to raise taxes. we have a struggling economy, and i think we'll have the opposite effect. i think the economy could become more sluggish with increasing taxes. you may get less revenue if you raise tax rate. that being said, i don't know where we are. no one is calling me up to give me any information on this. i'll find out if you find out first, you call me, okay? but we're not really part of the negotiations. that's being done by a couple of people, and i real think in the end as republicans we need to continue standing for what we've already stood for and that's that you stimulate the economy by leaving more money in the private sector. >> what about boehner's plan "b?" ken? >> let me go back to what senator paul said. look, in reality i don't believe people making $1 million in the year, are going to do anything. i just don't believe it. >> i think what you mistake here it matters whose money it is. that's sort of a pejorative or a moralistic way of looking at it. the economy doesn't care whether
>> i think it's a real bad idea to raise taxes. we have a struggling economy, and i think we'll have the opposite effect. i think the economy could become more sluggish with increasing taxes. you may get less revenue if you raise tax rate. that being said, i don't know where we are. no one is calling me up to give me any information on this. i'll find out if you find out first, you call me, okay? but we're not really part of the negotiations. that's being done by a couple of people, and i...
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Nov 5, 2012
11/12
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. >> what about taxes? let's go through the two plans on taxes. this is one of the more important yishdz for wall street, whether it's capital gains taxes, dividend taxes, ordinary income. let's define each side here. todd? >> well, look, romney's been very -- he wants a tax-friendly environment, maria. he's been vocal about that. i mean, that's just the culture of the gop. but then these guys are the odd couple. you have president obama who clearly is talking about higher taxes for the upper class and also thinking, have you to look at those other taxes, health care taxes, for example, that will impact the middle class. you have a romney presidency, you can only assume we have will have a cut in taxes but we need to resolve this fiscal cliff issue. it's not just resolving the fiscal cliff, it's also a long-term plan up. don't want to have to go through this every 12 months, talk about the debt ceiling and everything else. we want romney -- this is what wall street wants, something for the long term we know will be a fiscally fit future for the co
. >> what about taxes? let's go through the two plans on taxes. this is one of the more important yishdz for wall street, whether it's capital gains taxes, dividend taxes, ordinary income. let's define each side here. todd? >> well, look, romney's been very -- he wants a tax-friendly environment, maria. he's been vocal about that. i mean, that's just the culture of the gop. but then these guys are the odd couple. you have president obama who clearly is talking about higher taxes for...
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Aug 3, 2012
08/12
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we should have higher tax rates and not lower tax rates. it stunned me the day we got these numbers, the president goes out and doubles down on the class warfare tax policy. let's tack the job creators with than will get us more jobs. >> i worked for president clinton -- >> that was in the different time, you were in the dot com boom -- >> yes, but the top tax rate for six of the eight years of the reagan administration was 50%. we're talking about a 35% top marginal tax rate. we have a lower marginal tax rate today than they were in the reagan administration. the idea that you can't yaet jobs or grow the economy doesn't make any sense. we did it when taxes were much higher than they are right now. we had the worst economic recession since the great depression and a cut back in government jobs we we cut 485,000 jobs since january of 2010. if we had not cut those jobs, that's 485,000 more people contributing to the economy. that's having a drag on the economic output, a drag on the unemployment rate -- >> so you think we should have bigger g
we should have higher tax rates and not lower tax rates. it stunned me the day we got these numbers, the president goes out and doubles down on the class warfare tax policy. let's tack the job creators with than will get us more jobs. >> i worked for president clinton -- >> that was in the different time, you were in the dot com boom -- >> yes, but the top tax rate for six of the eight years of the reagan administration was 50%. we're talking about a 35% top marginal tax rate....
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Dec 17, 2012
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these tax rates do mrt. we've already seen how these rates or the threat of them are changing behaviors. people are selling homes, selling businesses, and selling stock in advance of these increases. so it may not change shopping this holiday season or day-to-day earnings, but we're seeing a huge amount of income shift to this year to next year. >> that's what i'm talking about. exactly right. because you already see people saying the capital gains number is 15% now, why shouldn't i sell my home by year end and the stocks i've made money on. knowing that cap gains go to 27%. >> we have a plan for that to happen. accountants usually tell their clients to defer income and accelerate deductions. that's the opposite at this time of the year. accountants that i work with that are working closely with their clients. they're saying axccelerate the income. >> they're even saying that when it comes to chartable deductions. nobody is sure if the charitable deductions is going away either. what about the little guys po
these tax rates do mrt. we've already seen how these rates or the threat of them are changing behaviors. people are selling homes, selling businesses, and selling stock in advance of these increases. so it may not change shopping this holiday season or day-to-day earnings, but we're seeing a huge amount of income shift to this year to next year. >> that's what i'm talking about. exactly right. because you already see people saying the capital gains number is 15% now, why shouldn't i sell...
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Dec 18, 2012
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you saw amin report on boehner's tax only deal. treasury secretary did a call with top executives. >> i want to see. >> you're doing fine. >> i'm a big guy. >> lacks spending agreement, doesn't deal with automatic cuts, fails to resolve the debt ceiling issue and increases potential for rating downgrade. when the administration wants to lobby, they go to the ceos. that's been recurrent throughout this. ceos we understand are pushing back saying as you pointed out, $200 billion apart, make a deal. make a deal. if the consequences are the economy going over the cliff, why don't you make a deal. >> we'll see you on the spending side. >> i have to work overnight on that. >> sue, down to you. >> the market fees as though they are making a deal at this point. that's why we have a triple digit advance, up 114 points on the dow jones industrial average. bob pisani with some trading action. the market is aching for a deal. any time we get any sense they are making not even a deal, just they are talking. >> plan b by boehner is a very modest
you saw amin report on boehner's tax only deal. treasury secretary did a call with top executives. >> i want to see. >> you're doing fine. >> i'm a big guy. >> lacks spending agreement, doesn't deal with automatic cuts, fails to resolve the debt ceiling issue and increases potential for rating downgrade. when the administration wants to lobby, they go to the ceos. that's been recurrent throughout this. ceos we understand are pushing back saying as you pointed out, $200...
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Jul 19, 2012
07/12
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if taxes go up that would be very bad for them. they will have less money to pay their rent, electricity, and buy prescriptions. but we can't control that in our personal votes. i don't think just because -- >> i'm sorry, please finish your thought. >> just because taxes go up, we will not change our dividend strategy. >> what should investor dos with their mono? that's coming up next. short break and then jumping into the ipo waters. kayak is on the verge, but is the only travel website going for the danger zone that foiled facebook? much money do millionaires need to feel wealthy? there's a lot of zeros involved. >>> here is a look at some of today's winners and losers. with the fidelity stock screener, you can try strategies from independent experts and see what criteria they use. such as a 5% yield on dividend-paying stocks. then you can customize the strategies and narrow down to exactly those stocks you want to follow. i'm mark allen of fidelity investments. the expert strategies feature is one more innovative reason serious
if taxes go up that would be very bad for them. they will have less money to pay their rent, electricity, and buy prescriptions. but we can't control that in our personal votes. i don't think just because -- >> i'm sorry, please finish your thought. >> just because taxes go up, we will not change our dividend strategy. >> what should investor dos with their mono? that's coming up next. short break and then jumping into the ipo waters. kayak is on the verge, but is the only...
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Apr 11, 2012
04/12
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return, so what they do with their taxes is not my business. i'm a banker. >> so you would steer them to somebody who would help them hide their money? >> i would them to these service providers. >> that's correct. >> you must have known deep down that it was illegal. >> when you came into the u.s. you felt uncomfortable. that's correct. >> but as a gesture of good will, birkenfeld did give the justice department, senate investigators, irs agents, and the s.e.c. lots of information about ubs and its secret activities. >> any transaction that happened on an account was held deep in the vault and sealed until the client came to pick it up personally. then they would either take it with them, which was generally not the case, or they would tell you to shred it, which we would do on behalf of the client. >> people didn't have online accounts. >> it was forbidden. e-banking was forbidden. >> they didn't get statements in the mail. >> no. >> so if somebody wanted to know how much money they had in the bank and how their investments were doing, they h
return, so what they do with their taxes is not my business. i'm a banker. >> so you would steer them to somebody who would help them hide their money? >> i would them to these service providers. >> that's correct. >> you must have known deep down that it was illegal. >> when you came into the u.s. you felt uncomfortable. that's correct. >> but as a gesture of good will, birkenfeld did give the justice department, senate investigators, irs agents, and the...
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Dec 19, 2012
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. >> joe greco, quickly on the tax issue. are you seeing a move by investors given the fact we're approaching year end and whatever happens with the fiscal cliff we'll see capital gains taxes higher in 2013 in. >> we've been seeing it across the board in bigger names and the what companies have done with special dividends getting them off their books and on to investors in a lower rate and, of course, we're seeing dividend-paying stocks that come due at the end of the week where people are shedding them ahead of that. they will take the wash sale a week or two later. they want to avoid the big tax implications that will come within the next year. >> that's what we're seeing. could be seeing that today. good to see you. thanks so much. appreciate your time. thank you very much. more on this late market selloff coming up in the program. up next, we'll take you live to the white house with the latest debt negotiations to avoid the fiscal cliff. then the head of the campaign to fix the date maya mac guineas is with me and why the
. >> joe greco, quickly on the tax issue. are you seeing a move by investors given the fact we're approaching year end and whatever happens with the fiscal cliff we'll see capital gains taxes higher in 2013 in. >> we've been seeing it across the board in bigger names and the what companies have done with special dividends getting them off their books and on to investors in a lower rate and, of course, we're seeing dividend-paying stocks that come due at the end of the week where...
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Dec 13, 2012
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he adds up the income taxes, payroll taxes, state and local sales taxes and he says the average effective tax rate in this country is now 40%. and he says it's hurting work effort and it's hurting consumption. my question is this -- in this discussion of the cliff and raising taxes, does anybody talk about that, what this added burden is going snob. >> well, all the time. again, it is just a truism that washington has a spending problem, not a taxing problem. and any of this talk, larry, of taxation is frankly just a distortion from the huge fiscal abyss. the fiscal cliff is a pothole relative to the size of our government. the our problem is a spending problem, principally driven by entitlement spending growing at 6%, 7%, 8%. now i'm fearful under the president's economic policy, the new norm is 1.5% to 2% gdp growth. that math doesn't add up. >> that's the thing. if that was the new norm, if i were in there, i wouldn't want to raise taxes but i get your point. you're going to run the financial services committee, an extremely important post. just in brief, sir, i'm sure you've thought a
he adds up the income taxes, payroll taxes, state and local sales taxes and he says the average effective tax rate in this country is now 40%. and he says it's hurting work effort and it's hurting consumption. my question is this -- in this discussion of the cliff and raising taxes, does anybody talk about that, what this added burden is going snob. >> well, all the time. again, it is just a truism that washington has a spending problem, not a taxing problem. and any of this talk, larry,...
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Feb 6, 2012
02/12
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the president absolutely insisted that the payroll tax cut be extended for these twos months and that helped get the economy going. we look forward to it being extended again. so i don't think there is any ground at all for complacency. there is nothing to feel like we're done or feel like the recovery is all there. these numbers are a favorable indicator in quite a murky economic story. >> let's talk the fed for a second. bernanke testified this week saying interest rates can sour quickly if investors lose confidence in the ability of a government to manage its fiscal policy. mr. bernanke was warning about the long-term fiscal issues but saying congress should not cut expenditures too sharply in the short run. are you at all optimistic about a grand plan to get a handle on the long term debt and deficit or should that not be the priority, larry? >> the biggest priority for the united states right now is getting recovery going at a rate that is rapid enough to produce sustained increases in the economy relative to its potential to produce. economic growth over the next five to ten yea
the president absolutely insisted that the payroll tax cut be extended for these twos months and that helped get the economy going. we look forward to it being extended again. so i don't think there is any ground at all for complacency. there is nothing to feel like we're done or feel like the recovery is all there. these numbers are a favorable indicator in quite a murky economic story. >> let's talk the fed for a second. bernanke testified this week saying interest rates can sour...
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Feb 9, 2012
02/12
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their after tax income was up half a percent and they saved it all. people bought their christmas presents starting in over-the-counter and -- in octo and retailers pulled the sales forward going into january, it will be weak. >> you make strong cases, i'm not in your camp, but you make a strong case, as you always do. lastly what are your investment indications? >> last year we had 19 investment recommendations and 15 of 19 worked. we carried over a lot. i like long treasureries, i think we are headed for 2.5% on a 30 year bond, that is gives you 12% appreciation. >> no stocks? >> i do like stocks, pipeline stocks gas prices are going down but they will drill them. they lose their leases if they don't. so they have to build the pipelines to get the stuff out. >> somebody. >> i like utilities, in other words, people want income here and now, they do not want capital gains out in the nowhere. stocks have gone nowhere. they are saying, hey, i want the money now. that is another area. i think that consumer staples, people need to eat. >> bonds, dividend
their after tax income was up half a percent and they saved it all. people bought their christmas presents starting in over-the-counter and -- in octo and retailers pulled the sales forward going into january, it will be weak. >> you make strong cases, i'm not in your camp, but you make a strong case, as you always do. lastly what are your investment indications? >> last year we had 19 investment recommendations and 15 of 19 worked. we carried over a lot. i like long treasureries, i...
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Sep 26, 2012
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people need a tax break. middle class people need a tax break. i said on this show and wrote in a column, your message should be lower
people need a tax break. middle class people need a tax break. i said on this show and wrote in a column, your message should be lower
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Nov 13, 2012
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tax cuts extended. in the top brackets, this is my question to you, capital gains tax rate goes up from 15 to 20. from 20 to 24% with obama care. the dividend of tax rate goes up. lord knows it could go from 15 to 40. and it may go then another 4% from obama care. between don't know that. those raise the cost of capital and lower the after-tax investment return. all right. i want to be realistic here. rest of the stuff may be extended. how's your scenario affected if cap gains and dividends go up? >> well, earnings expectations could pull back a little bit. remember, the stock market is moved by institutions. as much as we want to think it is individuals, it isn't. 94% of all the volume on the stock exchange are from institutional investors that don't care too much about the individual taxes. they care about earnings. >> i think it is a macro economic effect. it doesn't matter. you raised the cost of capital and lower the investment return for all of the capital in this country and that's going to have
tax cuts extended. in the top brackets, this is my question to you, capital gains tax rate goes up from 15 to 20. from 20 to 24% with obama care. the dividend of tax rate goes up. lord knows it could go from 15 to 40. and it may go then another 4% from obama care. between don't know that. those raise the cost of capital and lower the after-tax investment return. all right. i want to be realistic here. rest of the stuff may be extended. how's your scenario affected if cap gains and dividends go...
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Dec 27, 2012
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hour, dividend taxes are not taxed at 15% but are double taxed. companies have to pay taxes on their profits before distributing them as dividends. dividends are double taxed and will almost be triple taxed unless we do something in washington. all those million of dividend investors should be really angry. bad for them but it's bad for the economy. >> realistically though could we really expect it to go to 39.6, there's got to be some compromise in there somewhere. i wouldn't think the republicans would let it go much higher. >> you look at it. i don't think washington guess what this does. look at the effective rate. right now if i pay $1 as a public or private company and pay $1 a earnings as interest, it's taxed 18% higher effectively. >> right. >> so what does that do? that creates something called a debt bias. debt bias is bad for our economy. right now we have three things, too many debt in our economy, not enough job creation and need more income for retirees. tacking dividends is going to make all of those situations worse. >> to pare thi
hour, dividend taxes are not taxed at 15% but are double taxed. companies have to pay taxes on their profits before distributing them as dividends. dividends are double taxed and will almost be triple taxed unless we do something in washington. all those million of dividend investors should be really angry. bad for them but it's bad for the economy. >> realistically though could we really expect it to go to 39.6, there's got to be some compromise in there somewhere. i wouldn't think the...
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Aug 30, 2012
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tax fairness? ryan doesn't believe in the left wing class warfare tax the rich tax fairness idea. that's an obama idea, not a romney idea or a ryan idea. uh i hope. anyway, paul ryan did launch a brilliant attack on the failed obamanomi obamanomics, but the lack of tax cut talk may have confused investors anesthesia business. the dow is down 106, nasdaq down 32 and the s&p down 11. we have assembled a power house line-up. new hampshire senator kelly ayotte, conservative columnist ann coulter, senator ron johnson and senate minority leader mitch mcdonnell. growth not debt wins elections. that's my two cents. in fact, growth solves debt. that's why i'm hoping for a clear romney-ryan growth plan. tax cuts, limited government, sound money. in other words, jobs through free market incentives. that's what wins elections. it will be left to mitt romney tonight to borrow on the catch phrase of his celebrity speaker clint eastwood. take a listen. >> go ahead. make my day. >> okay. make my day. first up, another big night at the convention. mitt romney set to take the stage at 10:00 p.m. ea
tax fairness? ryan doesn't believe in the left wing class warfare tax the rich tax fairness idea. that's an obama idea, not a romney idea or a ryan idea. uh i hope. anyway, paul ryan did launch a brilliant attack on the failed obamanomi obamanomics, but the lack of tax cut talk may have confused investors anesthesia business. the dow is down 106, nasdaq down 32 and the s&p down 11. we have assembled a power house line-up. new hampshire senator kelly ayotte, conservative columnist ann...
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Dec 26, 2012
12/12
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raising taxes. we'll have to get serious. your guys just gave us, it was depressing enough to go out and have two double cheeseburgers and a milk shake. it was awful, and it's about time. we need a plus. we need something to charge up this economy, and getting this done. robert zelic on our board on the campaign to fix the debt, you know, the former head of the world bank, he said america is one good debt deal away from being the dominant economy for the next 25 years in the entire world. >> so you believe it's going town lock -- taking away that uncertainty is going to unlock cap "x" and hiring and consumers to open up their wallet? you think it will make that much of a difference? >> i believe it will. how many other arrows do we have in our quiver? >> there's an optimistic thought. better have another cheeseburger, governor. good to see you, again. thank you. >> good to see you guys. >> let's fix this. >> yeah. wouldn't that be nice. i'm the optimistic one on this show, and i'm starting to lose t
raising taxes. we'll have to get serious. your guys just gave us, it was depressing enough to go out and have two double cheeseburgers and a milk shake. it was awful, and it's about time. we need a plus. we need something to charge up this economy, and getting this done. robert zelic on our board on the campaign to fix the debt, you know, the former head of the world bank, he said america is one good debt deal away from being the dominant economy for the next 25 years in the entire world....
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Oct 10, 2012
10/12
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and so scratch the average republican today, and he'll say, "tax cuts, tax cuts, tax cuts." >> cut taxes. >> cutting taxes. >> make the tax cuts permanent. >> it's rank demagoguery. we should call it for what it is. if these people were all put into a room on penalty of death to come up with how much they could cut, they couldn't come up with $50 billion when the problem is $1.3 trillion. so to stand before the public and rub raw this anti-tax sentiment, the republican party, as much as it pains me to say this, should be ashamed of themselves. >> this from ronald reagan's old budget director, architect of the largest tax cut in american history? but he doesn't let the democrats off the hook. he says he cringes when he hears the president say things like this. >> i believe we ought to make the tax cuts for the middle class permanent. >> we have now got both parties essentially telling a big lie, with a capital "b" and a capital "l," to the public, and that is that we can have all this government, 24% of g.d.p., this huge entitlement program, all of the bailouts, and yet we don't have to t
and so scratch the average republican today, and he'll say, "tax cuts, tax cuts, tax cuts." >> cut taxes. >> cutting taxes. >> make the tax cuts permanent. >> it's rank demagoguery. we should call it for what it is. if these people were all put into a room on penalty of death to come up with how much they could cut, they couldn't come up with $50 billion when the problem is $1.3 trillion. so to stand before the public and rub raw this anti-tax sentiment, the...
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Sep 8, 2012
09/12
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including no higher capital gains or dividend taxes. less than regulatory environment that will help the banks and improve the prospects of the oil and gas industry. interesting, didn't those two sectors act so well today. a european boost that avoids a lehmanlike outcome, change in chinese policy, recognition problems specific to intel and a revised chance of a gop victory, by a number that wasn't crushed that often does a whole lot of crushing. unemployment number, real bad for the president. but we aren't investing whether it's easier to get a jb or who's going to win for president. we're investing for future profits and stabilities for our companies, and that actually went up, not down in the last 24 hours. let's start with john in kentucky. john! >> caller: hey, jim, a big bluegrass boo-yah to you from the home of the murray state racers. >> you're from kentucky. what's up? >> caller: my question is about the brazilian mining company, and i know some big news broke today in the industry about the merger. i just wanted to get your t
including no higher capital gains or dividend taxes. less than regulatory environment that will help the banks and improve the prospects of the oil and gas industry. interesting, didn't those two sectors act so well today. a european boost that avoids a lehmanlike outcome, change in chinese policy, recognition problems specific to intel and a revised chance of a gop victory, by a number that wasn't crushed that often does a whole lot of crushing. unemployment number, real bad for the president....
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Dec 28, 2012
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>> don't tax me. tax the guy behind the tree. that's what we're faced with. everybody wants to pay lower taxes and get more services if you're in defense, you say, we need the money. if you're in agriculture, you see we need subsidized crop insurance. where does it end? in montana, we've had eight years of -- they're not willing to do that in washington, d.c. they just kick the can down the road. >> what does it mean in terms of federal aid or reduction in federal aid if we go over the fiscal cliff and even if we don't go over the cliff, and they come up with a bandaid, you risk losing more federal aid down the road, don't you? >> no question about you. we're a rural state. montana is the size of pefl r. -- pennsylvania, new york. there are federal dollars that pay for maintaining those highways. you can't have a million people pay for all those highways because it connects the entire country. you have forest service, 30% of the land is owned by the federal government. so there's a lot of federal dollars that come to montana. that's part of the system. >> wha
>> don't tax me. tax the guy behind the tree. that's what we're faced with. everybody wants to pay lower taxes and get more services if you're in defense, you say, we need the money. if you're in agriculture, you see we need subsidized crop insurance. where does it end? in montana, we've had eight years of -- they're not willing to do that in washington, d.c. they just kick the can down the road. >> what does it mean in terms of federal aid or reduction in federal aid if we go over...
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Aug 13, 2012
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but chances are you pay a higher tax rate than him... mitt romney made twenty million dollars in two thousand ten but paid only fourteen percent in taxes... probably less than you now he has a plan that would give millionaires another tax break... and raises taxes on middle class families by up to two thousand dollars a year. mitt romney's middle class tax increase. he pays less. you pay more. >>> seconds away on "the kudlow report," new veep candidate paul ryan stirring up huge crowds on the campaign trail. he is going to be a game changer. you will hear from paul ryan, plus tim pawlenty on whether the democrat attacks on medicare are just lies. and gas prices up 34 cents since july 1. is this already sinking the consumer and the summer economy? we are "the kudlow report," just moments away. >> two teams going in two different directions. there's google. i
but chances are you pay a higher tax rate than him... mitt romney made twenty million dollars in two thousand ten but paid only fourteen percent in taxes... probably less than you now he has a plan that would give millionaires another tax break... and raises taxes on middle class families by up to two thousand dollars a year. mitt romney's middle class tax increase. he pays less. you pay more. >>> seconds away on "the kudlow report," new veep candidate paul ryan stirring up...
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Mar 11, 2012
03/12
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what that means are the usual things, low and efficient taxes, it means a favorable trade policy, it means avoiding excessive regulation and getting entitlements under control. the budget is an enormous problem for us. >> let me ask you about europe. what is the debt restructuring deal that we saw for greece mean for the overall euro zone crisis. tell me where we stand in terms of this euro zone mess. >> anytime you get a restructuring and a quiet way of working out of a major problem, it's better than having a volatile way of doing it. this is a positive step. i think that the europeans in part because they have misread our history, focused a bit too much on patches for the short run and fixing the contagion problems. their problems are fundamental and structural as ours are and getting worse in the long run. i think, stlooes in part, they have turned their attention to these problems. the short run patches, i don't think, are going to have much of an effect on europe. if we look at europe and say what are the implications of that for us, europe is in a recession now, maybe not tech
what that means are the usual things, low and efficient taxes, it means a favorable trade policy, it means avoiding excessive regulation and getting entitlements under control. the budget is an enormous problem for us. >> let me ask you about europe. what is the debt restructuring deal that we saw for greece mean for the overall euro zone crisis. tell me where we stand in terms of this euro zone mess. >> anytime you get a restructuring and a quiet way of working out of a major...
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Aug 13, 2012
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that's why he has the reductions at tax rates and individual tax reform and reduce it is tax rates, 10%, 25%, and corporate tax reform, cuts the top texas rate, corporate tax rate which is the highest industrialized world now. from 35% to 25%. and closes the loopholes and cuts government spending and to finance that and that is how, in fact, under the ryan budget, according to cbo, it stabilizes federal debt percentage of gdp and declines the national debt is a percentage of gdp and consistently until all the way down to 10% of gdp. virtually eliminated by 2050. >> let me bring up medicare before we let you go. the ryan plan of medicare is not all that far from what's in the president's health care program on indexing medicare costs at this time. so is it really an argument to be had on what to do with medicare right now? >> ryan's medicare is better for seniors than medicare under obama care. ryan's medicare is subject to the same spending limit obama care imposes on medicare. but the difference is all of that ryan's plan does is extend the more modern medicare part c and part d to the
that's why he has the reductions at tax rates and individual tax reform and reduce it is tax rates, 10%, 25%, and corporate tax reform, cuts the top texas rate, corporate tax rate which is the highest industrialized world now. from 35% to 25%. and closes the loopholes and cuts government spending and to finance that and that is how, in fact, under the ryan budget, according to cbo, it stabilizes federal debt percentage of gdp and declines the national debt is a percentage of gdp and...
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Nov 29, 2012
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versus the 2013 tax code. we're glued each week to the jobless claims and they come out at 8:30 and right now they aren't going up or down and that's because business is frozen. if you're thinking about creating a business, you want to know if you sell it you get a good capital gains rate. if you're a ceo, you saw the recession going over the fiscal cliff caused you don't want to be hiring. you might have to be firing in january. if we miss the deadline the market will get pounded every thursday as the claims spike because of mandated layoffs particularly in a military industrial complex. people will lose that right in 2013. and thousands of other companies are slimming down because, hey, we failed to rise above. when that happens, believe me, you'll want every bit of this mountain gear. you'll want the ice ax. man, we got to use this. this will no longer just be a key chain because if we're cl m climbing out of the cliff you need to be the first there and with the best stocks. i envision all segments of the m
versus the 2013 tax code. we're glued each week to the jobless claims and they come out at 8:30 and right now they aren't going up or down and that's because business is frozen. if you're thinking about creating a business, you want to know if you sell it you get a good capital gains rate. if you're a ceo, you saw the recession going over the fiscal cliff caused you don't want to be hiring. you might have to be firing in january. if we miss the deadline the market will get pounded every...
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May 30, 2012
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lower tax, will that mean lower tax revenue for states? >>> when higher mortgage rates kickstart the mortgage market. you're watching the "closing bell" on cnbc, first in business worldwide. worldwide.and had your shoes shined. well, i made you a reservation at the sushi place around the corner. well, in that case, i better get back to these invoices... which i'll do right after making your favorite pancakes. you know what? i'm going to tidy up your side of the office. i can't hear you because i'm also making you a smoothie. [ male announcer ] marriott hotels & resorts knows it's better for xerox to automate their global invoice process so they can focus on serving their customers. with xerox, you're ready for real business. so they can focus on serving their customers. recently, students from 31 countries took part in a science test. the top academic performers surprised some people. so did the country that came in 17th place. let's raise the bar and elevate our academic standards. let's do what's best for our students-by investing in our
lower tax, will that mean lower tax revenue for states? >>> when higher mortgage rates kickstart the mortgage market. you're watching the "closing bell" on cnbc, first in business worldwide. worldwide.and had your shoes shined. well, i made you a reservation at the sushi place around the corner. well, in that case, i better get back to these invoices... which i'll do right after making your favorite pancakes. you know what? i'm going to tidy up your side of the office. i...
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Dec 21, 2012
12/12
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but the other piece, the impact on our tax revenue as a result of less investment, obviously, the taxes going up on people. so there could be a double whammy. this is one reason that i and a number of other governors, both democrats and republicans visited a few weeks ago with president obama and vice president biden and then later in the day with speaker boehner and leader reid saying we're not advocating for one plan or another. we're saying, a, we would love to have governors voices heard and, b, please get something done, especially for the businesses in our state. >> i know you're trying to remain neutral in that regard and not trying to influence the negotiations. did you have both sides some flexibility in the negotiations. but let's face it, as marie ya points out, depending on the kind of cliff resolution we get, and i don't think we're going over the fiscal cliff just for the record. >> i know you don't. >> i don't. >> you could face some spending cuts as a result. so can't you come down one way or the other based on what the impact would be on your state? >> i probably could,
but the other piece, the impact on our tax revenue as a result of less investment, obviously, the taxes going up on people. so there could be a double whammy. this is one reason that i and a number of other governors, both democrats and republicans visited a few weeks ago with president obama and vice president biden and then later in the day with speaker boehner and leader reid saying we're not advocating for one plan or another. we're saying, a, we would love to have governors voices heard...
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Dec 17, 2012
12/12
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and if you're worried about taxes, of course, you take some off right now. but be ready to get back in. i don't think we can be nimble enough to get out and get in. look at what happened during that ridiculous period with the debt wrangling last year where you made all the money that you had lost in about four days. if you didn't catch the bottom, you didn't get back in. that's what i feared. let's go to darrell in alabama, please, darrell. >> caller: hey, jim. thanks for taking my call. i want to give you a birmingham boo-yah. >> i'll take it, thank you. >> caller: listen, i had bought some shares of wells fargo not too long ago and will do a little homework on it, finding out the federal reserve's going to implement the third from 2013 to 2018, changing standards on the capital adequacy stress testing and market liquidity. i've been reading a little bit about how it could possibly decrease annual gdp growth. i'm wondering, what do you think that means for wells fargo, and would you consider it a buy/sell or hold? >> wells fargo is my favorite banks. it's o
and if you're worried about taxes, of course, you take some off right now. but be ready to get back in. i don't think we can be nimble enough to get out and get in. look at what happened during that ridiculous period with the debt wrangling last year where you made all the money that you had lost in about four days. if you didn't catch the bottom, you didn't get back in. that's what i feared. let's go to darrell in alabama, please, darrell. >> caller: hey, jim. thanks for taking my call....
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Dec 14, 2012
12/12
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while we'd prefer not to have taxes raised, we recognize higher income taxes are the price we have to pay to get a deal. the very constituency supposed to abhor higher taxes for the 2%, namely, the 2% itself is willing to take a hit to get a deal done that would be good for profits and hiring and american ascendency, which is what we're on the brink of if we get a deal. what business leaders are discovering is what they are telling me is that their acceptance and support of the tax increases meant nothing to the president. obama was going to demand the tax increases with or without the approval of ceos, many of whom didn't vote for him anyway. business leaders got something really wrong. they were under a false impression, the impression that president understood their support for tax increases and they would pressure their own republican buddies in congress to make a deal and accept tax hikes, the ceo figures that they would offer spending cuts and go with the president and the grand bargain would be struck. now the ceos realize that perhaps the president doesn't think he should offe
while we'd prefer not to have taxes raised, we recognize higher income taxes are the price we have to pay to get a deal. the very constituency supposed to abhor higher taxes for the 2%, namely, the 2% itself is willing to take a hit to get a deal done that would be good for profits and hiring and american ascendency, which is what we're on the brink of if we get a deal. what business leaders are discovering is what they are telling me is that their acceptance and support of the tax increases...
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Dec 11, 2012
12/12
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carbon tax, michael reagan. california has gone for a carbon tax. there may be a federal carbon tax. part of president obama's agenda is possibly to institute a carbon tax because of his dream of green energy and because he needs the money. cal would be doubling up there, too. twice on the carbon tax. >> everything's doubling up. the taxes that they just laid on us, retroactive to january 1, 2012. the president wanted to increase taxes again on the richest 2% of the oh population. we make our effective tax rate in the state of california over 52%. something else. my energy bill i get every month, i pay $200 a month for the right for the department of water and power to give me energy in my house. if i never slip a switch, never turn on a faucet, $200 a month. i spend another $200 a month to underwrite those who can't afford water or flipping a switch in their house. there is no competition to the department of water and power in los angeles. if i use less power as i might do the department of water and power goes to l.a. city council to get a 10% in
carbon tax, michael reagan. california has gone for a carbon tax. there may be a federal carbon tax. part of president obama's agenda is possibly to institute a carbon tax because of his dream of green energy and because he needs the money. cal would be doubling up there, too. twice on the carbon tax. >> everything's doubling up. the taxes that they just laid on us, retroactive to january 1, 2012. the president wanted to increase taxes again on the richest 2% of the oh population. we make...
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Aug 28, 2012
08/12
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capped property taxes. have done a number of things people said we weren't going to be able to get done. >> but of course, ann romney, even though she speaks before chris christie may be the most important of the night. she practiced at the podium this afternoon. got a feel for this convention hall, that warm wood panelling that you can see behind me. she said i'm going to speak from my hearts, connecting mitt romney as a husband, a father, a grandfather. potentially a powerful message to try to deep deepen the american public's review. that's why they moved ann romney from monday night when the american networks were not going to take the republican convention to tonight. it will be fascinating to see how well she con nekts. >> we will be speaking with you later. so who do you think the mystery guest is going to be? tweet us your guess? that's the mystery guest thursday night. now, let's turn tonight to a very special guest. once again, the republicans will begin anew with profound changes with the way gov
capped property taxes. have done a number of things people said we weren't going to be able to get done. >> but of course, ann romney, even though she speaks before chris christie may be the most important of the night. she practiced at the podium this afternoon. got a feel for this convention hall, that warm wood panelling that you can see behind me. she said i'm going to speak from my hearts, connecting mitt romney as a husband, a father, a grandfather. potentially a powerful message to...